Big Bucks to Me on the British Pound

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Big Bucks to Me on the British Pound

Big bucks to me on the British Pound! With the referendum on the UK’s exit from the European Union in June, there are going to be violent moves with the GBP.

So let’s get set to benefit from this wonderful opportunity.

Overall chart setups that Hawkeye has identified in all timeframes, Trend set to conservative speed.

The Monthly price is in a downtrend. The Weekly price is also in a downtrend bias, but now in congestion with Pivot high two bars back.

So let’s look at faster time charts.

Daily Chart
GBP Daily Chart
Although in congestion bias up, the volume turned to no demand on Friday and there are two Pivot highs pushing the market down.

Intra-minute Charts

120-minute Chart
GBP 120-Minute Chart
Down day Friday.

60-minute Chart
GBP 60-minute ChartGreat short at 10.00am Eastern.

30-minute Chart
GBP 30-minute ChartAnother great short at 05.30am Eastern.

Hawkeye Perspective 
Please look to trade the GBP crosses at your preferred speed. That’s where the action will be for the next 4-6 weeks. So big bucks to me on the British Pound.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The magenta arrows are for illustration only and do not form part of the software]

Brace Yourself!

Brace yourself! Over the next few weeks the market will test the last Hawkeye weekly Pivot high, and then test the last weekly Pivot low at 2030. It’s also forming a weekly wedge profile and when broken – so watch out!

Let us recap on the last few weeks.

The S&P appears to be in the first stage of breaking down. We have a triple top on the Monthly, congestion entry on the Weekly and downtrend on the Daily.

Apple, as mentioned last week, broke down. The next test will be the Hawkeye weekly Zones at $76.

BUT here is the big story. Retail is in a bad, bad way. Profits are plunging for Macys, Kohls, Nordstrom, and Gap stores.

PacSun, Aeropostale and Quiksilver have filed for bankruptcy.

Amazon is doing great, but is that because the retail pie is shrinking or have people really changed their buying habits?

A great quote I found on the web:

“A wise man once said, our entire economy is based on folk buying stuff they don’t need, with money they don’t have…on credit. When that is shaken, and folk realize they don’t really need that new pair of shoes, or their 30K mileage car will last a couple more years…We’re toast.”

So what does Hawkeye say? Let’s look at one of the retail Exchange Traded Funds (ETFs) – RTH.

Monthly Chart
Monthly ETFRTH
Triple top in congestion and Hawkeye Volume showing two months of white no demand volume.

Weekly Chart
Weekly ETFRTH
The price was rejected twice when it tried to break through the Hawkeye stop area. Trend is white and in congestion and three weeks of no demand and the last week selling volume.

Daily Chart
Daily ETFRTH
A Pivot high, indicated by the magenta arrow, is pushing prices down, with the Hawkeye Volume in downtrend.

Hawkeye Perspective
Brace yourself! We are at major turning points on many sectors. So many opportunities to trade options and ETFs.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The magenta arrows are for illustration only and do not form part of the software]

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